Bank Of England Seeks To Strengthen Cryptocurrency Regulations

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,813,930,934	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,813,930,934

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.000137	0.11%	0.122847	0.122756	0.122799

Price Change

Price Change %

Current Price

Bid Price

Offer

0.000137

0.11%

0.122847

0.122756

0.122799

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.122868	0.122487	0.12271	0.12271	0.064588 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.122868

0.122487

0.12271

0.064588 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	07:37:09	62.98	0.122847	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

07:37:09

62.98

0.122847

USD

Price x Volume	Volume	Base Symbol	Related Pairs
40,340.76	328,805.71	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

40,340.76

328,805.71

Bank Of England Seeks To Strengthen Cryptocurrency Regulations

13/10/2021 11:22am

NEWSBTC

John Culifferthe, Bank of England’s Deputy Governor, discouraged crypto’s use in the UK’s finance system. He announced earlier that although cryptocurrencies are becoming more supported within United Kingdom’s financial system, they aren’t a significant threat. However, he also recommended that enhanced regulations should be enforced as digital currencies constantly expand. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course The bank stated in a publication that there is a need to regulate cryptocurrency at a local and an international level. Earlier in July, the bank warned against cryptocurrency spillover into traditional markets. It also said about banks, institutional investors, and payment operators’ absorption of cryptocurrency for transactions. Cryptocurrency Price Appreciation While cryptocurrencies like Bitcoin, Ethereum, and Tron prices spiked at the year’s first half. Just briefly, it climbed to $2.5 trillion in value. Collateral backers for the Bitcoin protocol promised to provide another store of value while the storers struggled to yield, given its meager interest rates. The cryptocurrency market is currently facing a decline | Source: Crypto Total Market Cap on TradingView.com On the contrary, cryptocurrencies have very high volatility, and the digital currency market has dipped more than $1 trillion in market value since May 2021. Bitcoin’s price has dropped from an ATH (All-Time-High) price of almost $65,000 in April this year to about $32,000 on Wednesday this week. Financial Regulators Issue Warnings Regulators have been giving frequent warnings about cryptocurrency. In particular, China has banned all digital transactions, declaring them illegal. Related Reading | Shiba Inu Outranks Chainlink And Takes Place In Top 15 Crypto-Assets However, Binance – the world’s biggest crypto exchange- was banned last month from the United Kingdom. Binance was among the numerous exchanges that didn’t register with the financial regulator, given that it couldn’t meet up with the anti-money laundering requirements. Featured image from Pixabay, chart from TradingView.com

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